|Market Size in 2022
|Market Forecast in 2030
|CAGR (in %)
|USD 2,054.78 million
|USD 3,543.71 million
Specialty Polyamides Market
The global Specialty Polyamides market size was worth around USD 2.05 billion in 2022 and is estimated to grow to about USD 3.54 billion by 2030, with a compound annual growth rate (CAGR) of approximately 7.05% over the forecast period.
Specialty polyamides are a sub-group of polyamides and consist of myriad polymers that demonstrate comparatively exceptional features and performance across myriad applications. Relatively higher strength, inelasticity, and dimensional stability along with relatively superior chemical & thermal characteristics exhibited by these specialty polyamides have rendered them effective and as proficient substitutes for conventional materials in various demanding applications.
Rising concerns regarding automotive fuel efficiency and favorable government regulations regarding the polyamides application in the automotive, textile, and consumer goods industries are expected to steer the global specialty polyamides market growth trends over the next few years. Massive government focus on green technologies and renewable energy trends is likely to produce hefty demand for specialty polyamides over the coming years. Rise in the disposable income and globalization is likely to boost the sales of vehicles across the globe and this, in turn, will proliferate the expansion of specialty polyamides market in the foreseeable future. Furthermore, rise in the air travels resulting in expansion of commercial aviation sector will generate lucrative demand for the product in the near future.
Massive use of specialty polyamides in electrical & electronics sector is projected to enlarge the scope of the business across the globe in the coming decade.
However, low economic development witnessed in the plastic consuming regions is anticipated to retrograde the specialty polyamides market growth to some extent. Nevertheless, growing efforts by the manufacturers to produce bio-based specialty polyamides will negate the impact of the hindrances and challenges faced by the market. This, in turn, will further catapult the market growth trends in the years ahead.
|Specialty Polyamides Market
|Market Size in 2022
|USD 2,054.78 Million
|Market Forecast in 2030
|USD 3,543.71 Million
|CAGR of 7.05%
|Number of Pages
|Key Companies Covered
BASF SE, Evonik Industries AG, Arkema S.A., INVISTA, Solvay America, Inc., DowDuPont, Inc., Koninklijke DSM N.V., Asahi Kasei Corporation; LG Chem, and Radici Partecipazioni Spa
|By Application, By Product, By End-User, By Type, and By Region
|North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
|2017 to 2021
|2023 - 2030
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The global specialty polyamides market can be divided based on product type, application, and segment. Based on the product type, the market is sectored into long chain, MXD6/PARA, and high temperature products. On the basis of application, the market is segmented into automotive, retail, and electrical & electronics sectors.
Based on regions, the global specialty polyamides market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific region is expected to dominate the global specialty polyamides market over the coming years. The region accounted for a major share in overall global automotive production along with the production of electronics and related products in the past few years. Growing product use in automotive sector as well as vehicle related applications in countries such as China and India is slated to steer specialty polyamides market growth in the region over the forecast timeframe. In addition, easy availability of raw materials at cheaper rates along with low labor wages and massive spending capacity of the consumers has boosted the product sales in the region.
European market is expected to record a steady growth in demand for specialty polyamides owing to escalating demand for bio-based materials in the region. North America specialty polyamides is slated to witness a massive expansion over the coming years, owing to humungous demand for the product in automotive as well as electronics sector in the region since last few years. In addition, large-scale efforts made by vehicle manufacturers to reduce fuel emissions through deployment of lightweight materials will further enhance the business scope across the region.
The key players in the global specialty polyamides market include